Regional Spotlight—The recently released RE/MAX of New England November Monthly Housing Report shows pending home sales are up on average 30.2 percent over November 2012. Inventory in every state except New Hampshire and Vermont shows a decrease year-over-year. Overall home sales show decreases month-over-month, an expected trend for this time of the year.
In Connecticut, the number of total transactions is down -2.5 percent year-over-year, while the median price is down slightly at -1.3 percent. Pending sales were up 7.7 percent year-over-year.
Massachusetts showed a decrease of -7.0 percent in total transactions year-over-year. The median price increased 5.2 percent. Pending sales were up 29.9 percent over November of 2012 – the highest in the region.
In New Hampshire, home transactions decreased -4.8 percent year-over-year, and median price rose 5.5 percent. Pending sales were up 12.2 percent.
Rhode Island home transactions fell -10.3 percent, while median price rose 6.5 percent . Pending sales were up 7.7 percent year-over-year.
Vermont experienced a boost in total transactions, up 7.2 percent, while median price fell -2.3 percent year-over-year. Pending sales were up 26.8 percent year-over-year.